Economy
NGX Extends Rally by 0.29% Amid Low Volume of Stocks
By Dipo Olowookere
For the sixth consecutive trading session, the Nigerian Exchange (NGX) Limited closed in the positive territory, further gaining 0.29 per cent on Monday.
Sustained buying pressure has helped the Nigerian bourse to maintain an upward trajectory despite the happenings in the country, especially the crisis created by the currency swap and petrol scarcity.
Business Post reports that bargain-hunting in the insurance, industrial and consumer goods sectors influenced the growth yesterday as they respectively closed higher by 0.33 per cent, 0.03 per cent, and 0.01 per cent, respectively, offsetting the 0.32 per cent loss posted by the banking counter and the 0.02 per cent decline recorded by the energy space.
Consequently, the All-Share Index (ASI) appreciated by 154.65 points to 54,367.74 points from 54,213.09 points, while the market capitalisation grew by N81 billion to N29.609 trillion from N29.528 trillion.
Yesterday’s trading session was marred by the low volume of transacted stocks, and investors bought and sold 191.6 million units compared with the 268.0 million transacted in the preceding session, representing a decline of 28.51 per cent.
However, the value of trades rose by 100.00 per cent to N4.8 billion from N2.4 billion, as the number of deals increased by 8.51 per cent to 4,359 deals from 4,017 deals.
GTCO was the busiest stock as it traded 50.6 million units, Zenith Bank transacted 18.0 million units, Chams exchanged 16.6 million units, UBA sold 14.9 million units, and Transcorp traded 14.2 million units.
The best-performing stock was Sovereign Trust Insurance, as it rose by 10.00 per cent to 33 Kobo, followed by Linkage Assurance, which gained 8.89 per cent to trade at 49 Kobo. International Energy Insurance improved by 8.08 per cent to N1.07, IMG chalked up 4.55 per cent to sell at N8.05, and Courteville grew by 4.08 per cent to 51 Kobo.
The worst-performing stock was McNichols, which fell by 8.96 per cent to 61 Kobo, trailed by Prestige Assurance, which dropped 8.70 per cent to 42 Kobo. FTN Cocoa depreciated by 6.06 per cent to 31 Kobo, Sunu Assurances declined by 5.88 per cent to 32 Kobo, and Japaul also went down by 5.88 per cent to 32 Kobo.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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